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Mortgage Rate Outlook - March 2019

Mortgage Rate Outlook - March 2019

Copyright British Columbia Real Estate Association. Reprinted with permission.

The once bright outlook for the Canadian economy darkened toward the end of 2018 amidst disruptions in Alberta oil production and a policy-induced slowdown in the Canadian housing market. This slowdown, along with global economic growth concerns, prompted a dramatic revision in market expectations for future Bank of Canada rate tightening. As a
result, key benchmarks for bank borrowing costs plummeted, reversing course after a year of steady increases.
 
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